As population of a region increases, the consumer's demand curve for a product will shift
Indicate whether the statement is true or false
F
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Which of following is the best example of a monopoly if we use a broader definition of monopoly?
A) Santos Tacos, the only taqueria in the small town of Santosville B) Cheap Gas, one of two gasoline stations in a large rural community C) Spuds McKenzie, a wealthy potato farmer in Idaho D) Zippie Rentals, a sports car rental service in the downtown Boston area
The American Federation of Labor
a. was an amalgamation of two labor organizations. b. had over 1 million members by 1905. c. sought to control job opportunities and conditions within each craft. d. allied with the National Civic Federation in attempt to create a more favorable public image. e. All of the above.
Which of the following is correct?
A. If demand is elastic, an increase in price will increase total revenue. B. If demand is elastic, a decrease in price will decrease total revenue. C. If demand is elastic, a decrease in price will increase total revenue. D. If demand is inelastic, an increase in price will decrease total revenue.
This Marketing the Connection argues that a key difference between market economies and centrally planned economies, like the former Soviet Union, is that "In market economies, decisions about which investments to make and which technologies to adopt are made by entrepreneurs and managers with their own money on the line. In the Soviet system, these decisions were usually made by salaried bureaucrats trying to fulfill a plan formulated in Moscow." But in large corporations, investment decisions are often made by salaried managers who do not, in fact, have their own money on the line. These managers are spending the money of the firm's shareholders rather than their own money. The investment decisions of salaried managers int he United States tend to be better for the long-term growth of
the economy than were the decisions of salaried bureaucrats in the Soviet Union because: A. Soviet managers feared losing their jobs if they adopted new technologies B. U.S. managers are driven by incentives of higher profits, leading them to adopt new technologies C. U.S. managers face no competition from domestic and foreign firms D. Soviet bureaucrats concentrated on cutting costs as they faced intense competition from home and abroad